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Maria Bartiromo: I Don't Have A Credit Card (VIDEO)



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- New SouthernYankeeBelle See Profile I'm a Fan of SouthernYankeeBelle permalink

Ah, it must be nice. I however, I don't have that kind of luxury. I don't have money laying around when it comes time to pay for my quarterly health insurance. We never made more than $45,000.00 a year. Sometimes the credit card is very valuable to people in our tax bracket. Sometimes it is easy to put others down when you are sitting on top because you got there not by your brain but by your looks like a lot of those gals that work for CNBC and other money shows.

    Reply    Favorite    Flag as abusive Posted 07:27 AM on 01/08/2009
- New ExPatriot70 See Profile I'm a Fan of ExPatriot70 permalink

I agree with her, when I retired I chucked all my credit cards and now pay for whatever I may need and that icluded a car, not new but a good one anyhow. Of course I moved to Europe and now have universal health care so I can afford to do that.

    Reply    Favorite    Flag as abusive Posted 06:52 AM on 01/08/2009
- Dukedraven See Profile I'm a Fan of Dukedraven permalink

Puleeze, her husband is loaded. She's rich and probably uses his cards. It's intellectually dishonest to try to pass yourself off as a frugal, penny-pinching working stiff.

    Reply    Favorite    Flag as abusive Posted 05:45 AM on 01/08/2009
- thinkb4uleapII See Profile I'm a Fan of thinkb4uleapII permalink

My thoughts exactly. Even if her husband wasn't loaded, she makes a sizable enough salary to not have to pinch pennies or forgo any luxury her little heart may desire.

    Reply    Favorite    Flag as abusive Posted 06:18 AM on 01/08/2009
- bob_cratchit See Profile I'm a Fan of bob_cratchit permalink

Debit cards have less consumer fraud protection.

http://www.consumerreports.org/cro/money/credit-loan/debit-cards/the-dark-secrets-of-debit-9-07/overview/the-dark-secrets-of-debit-ov.htm

"Under federal law, your liability for fraudulent charges on a debit card can be greater than it is for a credit card. With a credit card, you're only responsible for up to $50 in unauthorized purchases. But with a debit card, you can lose up to $500 if you don't report the theft or loss of your card or PIN within two business days of discovering the problem. And if you fail to report the unauthorized charges within 60 days of the date of the statement that lists them, you could be held liable for any unauthorized withdrawals after that date. Those include the full value of credit lines and funds in savings linked to your checking account for overdraft protection............
the headaches of setting the record straight are much greater with fraud on a debit card, says Ed Mierzwinski, consumer program director at the U.S. Public Interest Research Group. "Unlike a credit card, payment for a fraudulent transaction has already come out of your bank account, so you're fighting over your money, not theirs, and you could be bouncing other checks while you're waiting for it to be resolved,"

Financial journalists are so out of touch, I might as well stick to reading Dean Baker.

http://www.prospect.org/csnc/blogs/beat_the_press

    Reply    Favorite    Flag as abusive Posted 02:49 AM on 01/08/2009
- QuietAmerican See Profile I'm a Fan of QuietAmerican permalink

Excellent. I'm no millionaire, but I feel exactly the same way and only use debit cards.

I've always felt there was something wrong with being compelled to sign on to a company's product, and that's all credit cards are -- a product. In my twenties, I didn't know of any of my friends who were less than $10k in debt to their credit cards.

Bah-humbug to credit cards!